The Japanese yen dropped more than 1% compared to the United States dollar as the investors turned from trading in safe-haven assets after Pfizer and BioNTech released optimistic findings from its coronavirus vaccine trial's third stage.

The dollar jumped 1.41% versus the yen, selling for 104.7215 at 7:49 am ET.

The pound sterling also rose against the Japanese currency, increasing by1.36% to sell for 137.723 at 7:45 am ET.